Posted on 04/02/2012 5:44:24 PM PDT by Kaslin
Energy Policy: That gas prices are edging ever closer to $4 a gallon is bad enough. But even worse is the fact that the public blames the wrong villains. No wonder President Obama seems so unconcerned.
Last week's average price for regular gasoline hit $3.94 a gallon, according to the Dept. of Energy. That's up 11 cents in just three weeks, and more than $2 a gallon since Obama took office.
So who gets the blame? Obama for cutting oil production on federal lands and killing Keystone XL pipeline, for endlessly berating the industry and offhandedly dismissing oil as "yesterday's fuel"?
Nope, almost half of Americans in the latest IBD/TIPP poll blame oil companies and Wall Street speculators, the two players that have nothing whatever to do with the pain at the pump.
Twenty-eight percent blame price-gouging by oil companies as being most responsible for rising gas prices. And 18% blame "the actions of speculators." Just 13% blamed "lack of domestic production."
But the Federal Trade Commission and the Government Accountability Office have repeatedly investigated the oil industry for collusion or price gouging after previous price spikes. Each time they've found the same thing: The industry is highly competitive, and supply and demand, not collusion, set the price of oil.
It's the same with speculators. As IBD reported last month, a September 2011 study from the Institute for International Finance found no "clear causal link between financial investment and commodity prices" while the link "between commodity prices and fundamental supply and demand factors is indisputable."
An earlier investigation by the Commodities Futures Trading Commission found the same thing. Not that Obama, or his fellow Democrats or their friends in the mainstream press, will ever explain any of this.
(Excerpt) Read more at news.investors.com ...
I’ll never forget being at a counter-protest/FReep at the Orlando Arena back in ‘04. There was one of many freaky liberals that stood out that night. She was one early 30s semi-attractive woman that was apoplectic at George Bush over $3.75 a gallon gas. She was frothing at the mouth, screaming, red in the face and mad as hell. I wonder how that stinky liberal feels about owebama deliberately increasing oil prices?
LLS
“Who Else Is There To Blame?”
Bush...
The economy must be booming again because gas went up sixteen cents here today.
Heh.
0bama0 is blaiming the evyl joooooooooz.
Lookee heah ...
http://www.israelnationalnews.com/News/News.aspx/154432#.T3pPI9WlG18
Who else is there to blame?
George Bush.
/S/
i close my eyes when i go by the station anymore...
Every time I buy gas I leave a Post-it note on the pump — “OBAMA SUCKS” in black felt marker!! Pass it on, everyone should do this till election day!!
He ought to know!
He's the one who sent Chuckie Schumer to beg the Saudis to boost production!
It was probably august or so in 2003 and it only seemed like $3.75 a gallon. All I know for sure was I had a screaming banshee liberal woman go absolutely nuts about “Bush” and Haliburton “ripping off the American people.” I’m sure she’s equally ticked at shit-for-brains barrack. Or maybe not...
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